Nutraceuticals Market by Functional Foods (Cereal, Bakery & Confectionery, Dairy, Snacks, and Others), Functional Beverages (Energy Drinks, Sports Drinks, Fortified Juice, Dairy & Dairy Alternative Beverages, and Others), Dietary Supplements (Vitamins, Minerals, Botanical, Enzymes, Fatty Acids, Proteins, and Others), Distribution Channels (Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, Online Retail Stores, and Others), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global nutraceuticals market size is projected to expand at a CAGR of 7.5% during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand for nutraceuticals with medicinal advantages.
Nutraceutical products are substances that provide physiological advantages, protect against chronic illnesses, promote health, and slowdown the aging process. Nutraceuticals helps to manage health problems such as obesity, cardiovascular disease, cancer, cholesterol, arthritis, and diabetes.
The breakout of COVID-19 pandemic increased the demand for nutraceuticals as dietary components provide medicinal or health advantages to prevent illnesses and strengthen the general immune system. The demand for nutraceutical products increased around the world due to the flexibility of storage options, the presence of combined formulations with multiple benefits, increased consumer education level, informed consumers, and the rise in health concerns among connected consumers during this pandemic period.
Furthermore, the pandemic is a cornerstone to the beginning of invalid claims and clever marketing claims phrases that has customers. In India, for example, the ICMR & the FSSAI have reached an impasse with the claims and are requesting clinical confirmation of the goods. The Indian Council of Medical Research (ICMR) has launched a massive clinical trial on the Ayush component for immunity, which has been tested on over 10,000 police officers.
Market Trends, Drivers, Restraints, and Opportunities
- Rising awareness about the advantages such as high in antioxidants, probiotics, and polyunsaturated fatty acids is projected to boost the market growth.
- High cost of dietary supplements can restrain the market.
- Increasing preference for individualized nutrition is estimated to drive the market.
Scope of the Report
The report on the global nutraceuticals market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Nutraceuticals Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Functional Foods (Cereal, Bakery & Confectionery, Dairy, Snacks, and Others), Functional Beverages (Energy Drinks, Sports Drinks, Fortified Juice, Dairy & Dairy Alternative Beverages, and Others), Dietary Supplements (Vitamins, Minerals, Botanical, Enzymes, Fatty Acids, Proteins, and Others), and Distribution Channels (Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, Online Retail Stores, and Others) |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
PepsiCo Inc.; General Mills Inc.; Nestle SA.; Kellogg Co.; and Herbalife International of America, Inc. |
Nutraceuticals Market Segment Insights
Cereals segment is expected to grow at a rapid pace
Based on functional foods, the market is divided into cereals, bakery & confectionery, dairy, snacks, and others. The cereals segment is expected to grow at a rapid pace during the forecast period due to awareness about health advantages, performance, and perceived wellbeing of functional foods.
Sports drinks segment to grow at a steady pace
On the basis of functional beverages, the market is segregated into energy drinks, sports drinks, fortified juice, dairy & dairy alternative beverages, and others. The energy drinks segment is anticipated grow at a steady pace during the forecast period.
Vitamins segment to hold a major market share
In terms of dietary supplements, the market is classified as vitamins, minerals, botanical, enzymes, fatty acids, proteins, and others. The vitamins segment is anticipated to hold a key share of the market in the coming years due to rising health-consciousness. Companies are modifying their distribution systems to separate themselves from the competition and create space in a saturated market.
Soft chews, chewing gum, gummy bears, patches, lollipops, and quick-dissolving strips have joined the list of newer modalities of administration, which include soft chews, chewing gum, gummy bears, patches, lollipops, and quick-dissolving strips. Single-serving quantities of fortified food are available. Furthermore, dietary supplements are increasingly being delivered in different forms such as pudding-like squeeze packets for omega 3 fish oil, joint juice for glucosamine, and calcium in chocolate chew.
Drug stores/pharmacies segment to exhibit a robust CAGR
Based on distribution channels, the market is categorized as specialty stores, supermarkets/hypermarkets, convenience stores, drug stores/pharmacies, online retail stores, and others. The drug stores segment is estimated to grow at a robust pace during the forecast period. On the other hand, the online retail stores is expected to hold a significant market share in the projected timeline.
Europe is anticipated to constitute a key market share
On the basis of regions, the global nutraceuticals market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is expected to constitute a key share of the market during the projected period forecast period due to anti-aging concerns. The demand for nutraceutical goods is increasing as a result of mounting consumer and regulatory pressure in Europe.
In the projected term, growing obesity, cardiovascular illness, and obesity disease are estimated to dominate the nutraceutical sector. Additionally, functional bottled water is becoming more preferred in countries in Europe. Strong promotion for Coca-Glacéau Cola's VitaminWater brand improved sales, as did increased usage during sports and exercise.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Nutraceuticals Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Nutraceuticals Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Nutraceuticals Market - Supply Chain
4.5. Global Nutraceuticals Market Forecast
4.5.1. Nutraceuticals Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Nutraceuticals Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Nutraceuticals Market Absolute $ Opportunity
5. Global Nutraceuticals Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Nutraceuticals Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Nutraceuticals Demand Share Forecast, 2019-2026
6. North America Nutraceuticals Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Nutraceuticals Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Nutraceuticals Demand Share Forecast, 2019-2026
7. Latin America Nutraceuticals Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Nutraceuticals Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Nutraceuticals Demand Share Forecast, 2019-2026
8. Europe Nutraceuticals Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Nutraceuticals Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Nutraceuticals Demand Share Forecast, 2019-2026
9. Asia Pacific Nutraceuticals Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Nutraceuticals Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Nutraceuticals Demand Share Forecast, 2019-2026
10. Middle East & Africa Nutraceuticals Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Nutraceuticals Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Nutraceuticals Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Nutraceuticals Market: Market Share Analysis
11.2. Nutraceuticals Distributors and Customers
11.3. Nutraceuticals Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. PepsiCo Inc.
11.4.2. General Mills Inc.
11.4.3. Nestle SA.
11.4.4. Kellogg Co.
11.4.5. Herbalife International of America, Inc.